Friday, April 22, 2016

Peraso Raises $20 Million for WiGig Silicon

Peraso Technologies, a start-up based in Toronto, raised a $20 million funding round, to support its development of 60 GHz chip sets and solutions compliant with the IEEE 802.11ad specification.

Peraso said its WiGig IC solutions, which are now in production, address both next generation WiFi opportunities in the consumer electronics (CE) space, as well as outdoor devices in the 60 GHz wireless infrastructure space.

The round was co-led by IDT and included existing investor Roadmap Capital (Roadmap), with additional financing from iNovia Capital.

“The interest we’re seeing in WiGig is tremendous,” said Ron Glibbery, President and CEO of Peraso. “Multi-Gigabit wireless connectivity is something that more and more CE and wireless infrastructure manufacturers are seeking to incorporate in their products.  Raising this capital allows Peraso to take our sales to the next level. Participation by IDT provides further validation of the market opportunity, and continued participation from Roadmap, as well as iNovia, speaks to the tremendous success the company has demonstrated in getting our first ICs to market.”

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